Updated July 3 at 9:03pm
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Textron Inc. – parent company of Bell Helicopter, Cessna Aircraft Co. and Textron Systems – reported that its net income climbed 27.4 percent in the second quarter to $144 million, or 51 cents per diluted share, compared with $113 million, or 40 cents per diluted share, for the same period last year. more
Quonset Development Corporation’s board of directors approved a lease option Tuesday for Cape Wind Associates LLC for property that could be used for staging components for the Massachusetts energy company’s planned 130-turbine wind farm in Nantucket Sound. more
Bank of America Corp., the second- biggest U.S. bank, said profit declined 43 percent as it spent $4 billion to cover litigation costs, including a mortgage settlement with American International Group Inc. more
(Updated, 11 a.m.) GTECH S.p.A. has agreed to purchase International Game Technology Inc., a gaming entertainment company headquartered in Las Vegas, for approximately $4.7 billion in cash and stock, merging the two companies under a newly formed U.K. holding company. more
IT consulting and services company Envision Technology Advisors last week announced the launch of its InFlight Cloud Platform, developed in partnership with the Prov.net data-hosting center in Providence. more
Co-founders of Sproutel talk about their interactive toy aimed at helping children with diabetes. more
Through collaboration with researchers at the University of Rhode Island and Dartmouth College, biotech firm EpiVax Inc. has developed a new Web-based tool that predicts the likelihood that a protein-based therapeutics will induce an adverse response in patients, avoiding safety problems that caused the U.S. Food and Drug Administration to suspend a clinical trial in 2012. more
Sensata Technologies Holding N.V. has agreed to acquire global electronic controls manufacturer DeltaTech Controls for $190 million. more
This week, the Providence Geeks will host VoltServer Inc., an East Greenwich startup that has pioneered a technology known as Packet Energy Transfer, which has the potential to revolutionize how electrical power is controlled, measured and distributed. more
U.S. stocks fluctuated as investors weighed better-than-estimated bank earnings against Federal Reserve concerns about valuations for some social-media and biotech companies. more
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